U.S. Senate's Warren asks for Trump-tied crypto probe as market structure bill drags

Senator Elizabeth Warren, a leading critic of crypto legislation, has called for a new U.S. national-security investigation into the decentralized exchange PancakeSwap. She specifically raised concerns that the exchange might be amplifying coins issued by World Liberty Financial Inc. (WLFI), which is connected to former President Donald Trump. Warren sent a letter to Treasury Secretary Scott Bessent and Attorney General Pam Bondi, urging them to investigate potential connections to "improper political influence by the Trump Administration on enforcement decisions."

This request comes as negotiations on the broader crypto market structure bill are dragging, having failed to conclude before the end of the year, with talks set to resume in January. Warren has been largely sidelined in the committee negotiations, where a bipartisan group is working on the legislation. The treatment of Decentralized Finance (DeFi) platforms, which allow large transaction volumes without user identification, remains a major sticking point in the market structure bill talks.

Furthermore, the issue of banning senior government officials from pursuing business interests in the crypto sector is another point of contention, which the White House has already rejected initial proposals on. If negotiations extend significantly into the new year, the bill could conflict with budget talks scheduled around a January 30 deadline, potentially causing further delays.

(Source：CoinDesk)